All posts by hlancey@bloomberg.net

Ammonium Polyphosphate

Ammonium Polyphosphate, California, Eastern Cornbelt, Market Watch, Pacific N.W., Western Canada, Western Cornbelt

Eastern Cornbelt:

The 10-34-0 market was steady at $505-$525/st FOB for the latest fill offers in the Eastern Cornbelt.

Western Cornbelt:

10-34-0 was quoted at $520-$530/st FOB in the Western Cornbelt, depending on location.

California:

10-34-0 was up $9/st for August, to $541-$546/st FOB in California. The 11-37-0 market firmed to $590-$595/st FOB, up $10/st from July.

Pacific Northwest:

The phos acid reset pushed 10-34-0 prices in the region up to $518/st FOB, reflecting an $8/st increase from July. The 11-37-0 market firmed to $570/st FOB in the Pacific Northwest and $560/st DEL in Idaho, up $10/st from last month.

Western Canada:

The latest 10-34-0 prices in Western Canada dropped to a reported C$850/mt DEL for fill offers, well below spring pricing at the C$990/mt DEL level.

Muriate of Potash

Brazil, California, Eastern Cornbelt, Market Watch, Northwestern Europe, Pacific N.W., Potash Muriate, Southeast Asia, U.S. Exports, U.S. Gulf, U.S. Imports, Western Canada, Western Cornbelt

US Gulf:

The NOLA potash market remained at $265-$275/st FOB for the latest business, unchanged from last week.

US Imports:

June potash imports totaled 1.27 million st, a 43.0% increase from 886,256 st in June 2023. July-June imports were counted at 14.91 million st, up 24.2% from the year-ago 12.01 million st. July-June imports from Canada were reported at 12.95 million st, Russia sent 1.49 million st, and Israel added 312,765 st.

US Exports:

Potash exports for June rose 900.9% year-over-year, to 642,160 st from 64,161 st. Shipments were 34.6% higher for the full July-June fertilizer year, at 4.43 million st compared to 3.29 million st through the same period of 2022/23.

Exports to Brazil totaled 1.46 million st for the fertilizer year, followed by 693,856 st to China and 420,748 st to South Korea. Australia and Malaysia took 294,123 st and 284,485 st, respectively.

Eastern Cornbelt:

Potash was unchanged at $315-$335/st FOB in the Eastern Cornbelt, with the Cincinnati market pegged at the $320-$330/st FOB level at mid-month.

Western Cornbelt:

Potash was steady at $315-$330/st FOB in the Western Cornbelt, with the low reported at St. Louis and the high in Iowa on a spot basis.

California:

Potash was quoted at $480-$488/st FOB warehouses in California, with the low for 60% and the high for $62% MOP.

Pacific Northwest:

Potash pricing in the Pacific Northwest was reported a $435-$443/st FOB or DEL, with the low for 60% and the high for 62% MOP.

The latest potash reference prices from Intrepid FOB Moab and Wendover, Utah, dropped to $400/st FOB for 60% white standard and $405/st FOB for 60% white granular, down $55/st from the company’s previous postings.

Western Canada:

The potash market in Western Canada remained at C$475-$505/mt FOB the mine for the latest sales, with the higher end of the range reflecting post-fill reference prices from producers.

Northwest Europe:

The potash market in Northwest Europe remains largely illiquid, with demand expected to return in early September for autumn application. Prices were unchanged as a result, with granular potash at €330-€350/mt CIF and standard at €315-€330/mt CIF.

Southeast Asia:

The potash market in Southeast Asia was described as stable and seasonally slow, resulting in flat prices. Suppliers have been indicating higher prices following the recent Indian and Chinese contract settlements, but so far buyers have resisted, with $290/mt offers FOB Laos for standard potash not finding acceptance on the buy side.

Demand should gain some momentum towards the end of the month, when a number of import tenders are expected. Prices are stable for now, with standard potash at $275-$290/mt CFR and granular at $330-$340/mt CFR.

Brazil:

Potash imports held steady at last week’s $290-$300/mt CFR level.

Strong supply continued to support a favorable barter ratio for inland growers, both for the purchase of standalone tons and for use in blends. Domestic players noted a $5/mt increase at the top of the range, lifting the market to $420-$435/mt FOB Rondonópolis.

The projected vessel lineup shows more than 1 million mt of potash expected for August – in line with typical volumes for the month – allowing growers to adequately plan for their needs.

Sulfur

ADNOC - Abu Dhabi, Alberta, Brazil, China, Market Watch, Qatar, Sulfur, Tampa, U.S. Gulf, Vancouver, West Coast

Tampa:

Tampa molten sulfur contracts were valued at $76/lt CFR for the third quarter, down 6.2% from $81/lt CFR in 2Q.

US Gulf:

US Gulf prices firmed to $100-$110/mt FOB in the latest round of business, up from $93-$98/mt FOB, following both the Brazil and Vancouver markets higher.

Brazil:

Brazil sulfur import pricing continued at the week-ago $135-$140/mt CFR level.

Vancouver:   

Vancouver prill prices continued in the $95-$100/mt FOB range.

Alberta:

Estimated Alberta netbacks were steady at (-)$39-$30/mt FOB, and included both molten sulfur cargoes contracted into the US market and prilled tons exported through Vancouver.

West Coast:

West Coast solid sulfur exports continued in line with Vancouver at $95-$100/mt FOB. Third-quarter molten contracts were reported at $58/lt FOB, down from $60-$62/lt FOB in the second quarter.

China:

China sulfur imports continued at the $132-$137/mt CFR level, sources said.

ADNOC:

Abu Dhabi National Oil Co. (ADNOC) solid sulfur postings were reported at $107/mt FOB Ruwais for August, a 30.5% increase from $82/mt FOB in July.

Qatar:

Sources reported Muntajat posted prices for August at $106/mt FOB Ras Laffan, up 30.9% from July’s $81/mt FOB offer.

Ammonium Thiosulfate

Amthio, California, Eastern Cornbelt, Market Watch, Pacific N.W., Western Cornbelt

Eastern Cornbelt:

The ammonium thiosulfate market was quoted at $270-$285/st FOB in the Eastern Cornbelt, with the low reported at Terre Haute, Ind., and the high at Cincinnati.

Western Cornbelt:

Ammonium thiosulfate pricing remained at $250-$275/st FOB in the Western Cornbelt, with both the high and low confirmed in Iowa.

California:

Ammonium thiosulfate was unchanged at $325-$340/st FOB in California.

Pacific Northwest:

The ammonium thiosulfate market was steady at $305-$315/st FOB in the Pacific Northwest, with rail-DEL offers reported in the $295-$305/st range on a spot basis.

CAN

California, CAN, CAN-17, Germany, Pacific N.W.

California:

The CAN-17 market in California dropped to $280-$300/st FOB in early August, down from $320-$330/st FOB at in July, with the low confirmed at Helm and the high at Stockton and El Centro.

Pacific Northwest:

CAN-17 pricing in the Pacific Northwest remained at $332/st FOB Kennewick in mid-August.

Germany:

CAN market activity in Germany was muted, but suppliers remain confident in upcoming demand given limited market coverage to date. CAN pricing was assessed indicatively lower at €255-€265/mt CIF.

Potassium Sulfate

California, Market Watch, Pacific N.W., Potassium Sulfate, U.S. Exports, U.S. Imports

US Imports:

SOP imports shot 364.7% higher in June, to 12,157 st from 2,616 st in June 2023. Imports moved 16.3% lower in July-June, however, to 100,089 st from the previous year’s 119,544 st. Canada held the top import spot for July-June with 46,466 st, beating 40,675 st from Germany. Belgium added 7,379 st. 

US Exports:

June SOP exports rose 32.9%, to 836 st from the year-ago 629 st. July-June exports fell 47.1%, however, to 23,381 st from 44,201 st in the prior year. Mexico purchased 11,239 st of US product in July-June, followed by Canada with 7,637 st. Exports to Singapore were steady at 2,142 st.

California:

SOP pricing slipped to $615-$640/st FOB for the latest offers in California.

Pacific Northwest:

The SOP market was steady at $640-$650/st FOB in the Pacific Northwest.